Primerica, Inc. (NYSE:PRI) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in Primerica, Inc. (NYSE:PRI) by 59.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,720 shares of the financial services provider’s stock after acquiring an additional 41,612 shares during the quarter. California Public Employees Retirement System owned 0.33% of Primerica worth $30,323,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PRI. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares in the last quarter. Barclays PLC raised its stake in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares in the last quarter. Sylvest Advisors LLC purchased a new stake in Primerica during the 4th quarter worth about $543,000. Oak Thistle LLC increased its holdings in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after acquiring an additional 11,612 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 1.1 %

Shares of PRI stock opened at $291.20 on Thursday. The stock’s 50-day moving average price is $286.07 and its 200 day moving average price is $282.49. The stock has a market capitalization of $9.68 billion, a PE ratio of 21.18 and a beta of 1.12. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of several recent analyst reports. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Morgan Stanley cut their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.